By: Energy capital & power

Algeria’s national oil company, Sonatrach has signed a hydrocarbon production-sharing agreement with Chinese integrated energy firm Sinopec for the Hassi Berkane Nord project.

Sonatrach and Sinopec will collaborate on research and assessment programs aimed at enhancing and developing hydrocarbon resources in the region between the wilayas of Ouargla and El Meniaa.

The agreement includes an investment of up to $850 million and builds upon a Memorandum of Understanding signed between the two parties in March 2024. The deal aligns with ongoing efforts to strengthen Sonatrach and Sinopec’s existing partnership on exploration and improving oil and gas recovery rates.